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Argentina's poverty rate climbs to nearly one in three under Milei
France 24 • • world
Key Points:
- Argentina's poverty rate rose to 32.3% in the first half of 2026, reversing some of the gains made under President Javier Milei, as incomes failed to keep pace with rising prices, according to official statistics.
- Extreme poverty increased from 6.3% to 7.5%, with children under 14 being the most affected group, where 44.5% are classified as poor and 10.8% as extremely poor.
- The poverty rate had previously dropped from 52.9% in early 2024 to 28.2% in late 2025, following Milei's austerity and deregulation policies, but recent inflation rebounds and job insecurity have contributed to the recent increase.
- Economic challenges include job losses in manufacturing and retail due to increased foreign competition and a surge in imports, with unemployment rising to 7.9% in Q2 2026 and significant informal employment driving poverty.
- Despite the setbacks, Milei claims to have lifted 14 million people out of poverty since taking office, based on reductions from the peak poverty rate after his election.
